Banking & Finance

Banks in the Asia-Pacific region appear fairly well-padded against recent currency depreciations, according to a report, titled “Asia-Pacific Banks Seem Sufficiently Cushioned Against Currency Depreciation,” that Standard & Poor’s Ratings Services (S&P) recently released.

By Jerry Maglunog China’s yuan, now the world’s sixth most traded currency, is just a matter of months away from becoming the fifth unit in the special drawing rights (SDR), which will make it a currency acceptable for global use.

The region’s major multilateral lenders, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB), have agreed to cooperate to help speed up the development of Asia, mainly through the joint financing of projects.

The Rizal Commercial Banking Corp. (RCBC) has, in more than five decades, provided service excellence to its clients with its wide array of products and services suited to the needs of its diverse clientele. Through the years, RCBC continues its commitment to offer innovative banking solutions that are relevant and beneficial to various market segments. As part of its goal …

By Jerry Maglunog To avoid inconvenience because automated teller machines (ATMs) are limited in some areas in the country, an increasing number of executives are turning to their smartphones to do mobile banking.

The World Bank (WB) is working with the government to develop an insurance and risk-transfer mechanism for national and local governments, businesses and even individual households to help them deal with natural disasters. 

By Jerry Maglunog Banks are also making a killing out of lending, aside from the conventional route of bank loans through tie-ups with credit-card companies. 

By Riza Lozada With more than 100 million payment cards issued in the Philippines, the biggest challenge to spur e-commerce remains the accessibility of terminals, according to a recent industry report. 

Sumitomo Mitsui Banking Corp. (SMBC) recently opened its local branch at the 21st Floor, Ayala Tower 1, Makati City. 

By Jerry Maglunog With the aim of servicing more Filipinos, the state-owned Land Bank of the Philippines (LandBank or LBP) has launched a massive expansion in the provinces to reach a bigger number of unbanked Filipinos.